Seeking Alpha
2022-09-19 11:19:10

Bitfarms tops 4 EH/s hashrate as production kicks off at Rio Cuarto warehouse

Bitfarms' (NASDAQ:BITF) hashrate exceeded the 4 EH/s milestone as it launched production at its first warehouse in Argentina.Production at the first of two 50MW warehouses under development in Argentina kicked off, with the initial start-up adding 10MW of capacity, bringing the total corporate capacity to 176MW.Going forward, the bitcoin miner plans to light up additional 10MW increments with a goal of energizing the entire 50MW Dec 31, 2022.Geoff Morphy, President and COO of Bitfarms, said: "We are proud to start production ahead of plan at our first 50 MW warehouse in Rio Cuarto, marking our 10th mining facility and 4th country now in production. Additionally, adjacent to the first facility, we commenced construction at our second 50 MW warehouse, which we continue to expect to complete around the beginning of Q2 2023."BITF shares are down 1.61% pre-market

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